The “EPC” stands for Engineering, Procurement and Construction. EPC Contractors are responsible for arranging and managing all the activities require for projects. This article provides information of famous EPC Contractors around the world.
The Responsibilities of EPC Contractors
The objectives and goals of EPC Contractors are to accomplish the given tasks and projects effectively and efficiently. The EPC is one of the subsidiaries of project management. The EPC Contractors help the companies, industries and governments to fulfill any engineering projects similar to building roads, highways, etc.
EPC Contractors also work for the installation and maintenance of power plants.
Their key responsibilities include handling the complete project, from planning, organizing, leading, controlling and evaluating. The EPC Contractors manage the engineering and constructing projects.
The main goals of EPC Contractors include:
- Maximizing the production
- Minimizing the defects during production
In simpler words, the EPC Contractors have to manage projects timely, effectively and efficiently.
The key roles and responsibilities of EPC Contractors include:
- Designing and installing
- Obtaining the raw material for the project
- Risk budgeting
- Handling the price fluctuations
How EPC Contractors work?
EPC Contractors work in association with different vendors. They hire sub contractors for completing different phases of the project. While outsourcing different phases, EPC Contractors take care of the budgets.
Famous EPC Contractors around the world
There are several EPC Contractors who are successfully functioning around the globe. Some are global while others are flourishing in their own respective regions.
Here are the top 10 EPC Contractors:
Petrofac is one of the biggest international construction contractors. They are the top of the list because of getting several of the Middle East’s oilfield contracts. This EPC Contractor is registered in Jersey Stock Exchange. The firm deals in petroleum and well engineering as well as provides valuable services in the field of construction.
Saipem is another best oilfield contractor. They showed their excellent expertise by undertaking contracts of the expansion of onshore production centers.
- Hyundai Heavy Industries
This EPC Contractor makes projects for building ships mainly. Hyundai Heavy Industries are also working on completing several oilfield projects across globe.
- Samsung Engineering
Samsung Engineering is one of the biggest EPC Contractors in Middle East. This EPC Contractor has made the joint venture with Arabtec.
Technip is a French EPC Contractor. It has a wide business portfolio and efficiently completing catalytic cracking unit projectrelated to oilfields for maximizing the petroleum production.
- Worley Parsons
It is an Australian firm and signed six of the major offshore projects between Saudi Arabia and Aramco.
CB&I is another giant. It is ranked seven because of the major losses during the previous years. It is currently completing its EPC contract for five crude oil tanks on the island of Das.
- SK Engineering and Construction
This Korean firm is in its way of getting huge success. The future is very bright for this EPC contractor. The firm is currently working on the completion of Iraq State Company for Oil Projects.
This is one of the UAE’s construction firms. Serving its home town, the firm is busy in completing some of the main projects in UAE.
Like other EPC Contractors (firms), Flour is one of the toppers. One of their achievements include EPC contract of Reverse Osmosis Plant by Sadara Chemical companu in Saudi Arabia.